Dentons has advised Turkcell — the leading mobile phone operator in Turkey — in Ukraine on the acquisition of SCM Holdings Limited’s (SCM) 44.96% stake in Euroasia Telecommunications Holding B.V. (ETH).
As ETH — a Dutch company — was a joint venture between Turkcell and SCM, and Turkcell already owned the other 55.04%, the acquisition will leave Turkcell with 100% ownership of ETH, and thus sole ownership of Ukrainian mobile operator LLC Astelit, a wholly-owned ETH subsidiary, which operates in Ukraine under the “life:)” brand. The value of Turkcell’s acquisition of SCM's 44.96% stake was reportedly USD 100 million.
The Dentons Kyiv team was led by Partner Adam Mycyk, who commented: “We are extremely delighted to have helped our client, Turkcell, to bring this high profile transaction to its successful completion. This is indeed a significant transaction for the Ukrainian telecoms industry, and this again underscores our strong industry and M&A capabilities in Ukraine, as well as Turkcell’s commitment to Ukraine.”
Mycyk was assisted by Dentons Associates Anna Tkachenko and Yaroslav Malomuzh.